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Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 46 $ 43 Accounts receivable 110

Financial statements of Rukavina Corporation follow:

Comparative Balance Sheet
Ending Balance Beginning Balance
Assets:
Cash and cash equivalents $ 46 $ 43
Accounts receivable 110 94
Inventory 69 53
Property, plant, and equipment 858 700
Less accumulated depreciation 374 321
Total assets $ 709 $ 569
Liabilities and stockholders' equity:
Accounts payable $ 82 $ 96
Bonds payable 205 330
Common stock 121 94
Retained earnings 301 49
Total liabilities and stockholders' equity $ 709 $ 569

Income Statement
Sales $ 815
Cost of goods sold 264
Gross margin 551
Selling and administrative expense 106
Net operating income 445
Income taxes 157
Net income $ 288

Cash dividends were $36. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.

The net cash provided by (used in) investing activities for the year was:

Multiple Choice

  • $(158)

  • $158

  • $(36)

  • $36

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